Commercial Real Estate

Buyer to revamp foreclosed West End hotel

A local firm is expanding its large local hotel portfolio to a new area with plans to renovate the 224-room Glenside Drive property. The sale was finalized less than a year after the firm first made its initial move on the property in an auction last June.

Huge development breaks ground at Short Pump

Shovels are officially in the ground at a massive new Broad Street development that’s extending Short Pump’s retail boundaries further west.

Lawyers push for second auction of Jefferson properties

A federal judge approved a request by lawyers yesterday to look into a potential second auction of a massive apartment portfolio held by Billy Jefferson after claims that the properties’ lender and winning bidder in the December auction has repeatedly failed to provide information crucial to fetching the best price.

Chester industrial plant fetches $16M

A massive West Coast REIT closed on its purchase of a packaging facility in Chesterfield County last month for more than $16.6 million.

Southside apartments sold for $17.5M

After one deal fell through, a 372-unit apartment complex has found a new buyer that’s connected with a Canada manufacturing company.

Local firm backs $100M Leesburg project

A local private equity firm is stepping outside the Richmond area to help get a stalled Northern Virginia development off the ground.

The Pipeline: Commercial real estate roundup for Jan. 9, 2014

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Lots of real estate news this week: A technology firm leases more than 21,000 square feet in an Henrico office park, a motorcycle shop moves into a new space and several developers buy up commercial and retail space around the Richmond area.

More Manchester apartments on the rise

Two developers are continuing their work in Manchester with an apartment building and a larger mixed development in the works within a few blocks of each other.

Golf club tees off under new owner

A California-based golf company is stepping in to take control of a Glen Allen club, dissipating a long struggle between the course’s builder and former owner and its members.

Church Hill housing overhaul put in motion

A plan presented to the city on Monday that calls for 300 residential units on the old Armstrong High School site was the first step in a larger goal to revamp the public housing complex in Creighton Court.